Pulis held crisis talks with co-chairman Steve Parish on Thursday night, and sources later confirmed to ESPN FC that he had departed as a result of his frustration over the club's failure to land his key transfer targets this summer.

A statement on Palace's official website on Friday read: "Crystal Palace Football Club can confirm that Tony Pulis has left the club by mutual consent with immediate effect. Keith Millen will be in temporary charge of the team for our opening Barclays Premier League game against Arsenal this Saturday.

"The club would like to thank Tony for his efforts with the club during last season and wish him all the best for the future."

Pulis had steered Palace to safety last season, taking over from Ian Holloway after they had collected only seven points from their opening 12 games following their promotion from the Championship.

However, the former Stoke boss felt they had not done enough to reinforce ahead of the new campaign.

They Eagles have only signed Frazier Campbell from Cardiff City, Brede Hangeland on a free, Blackpool's Chris Kettings and Martin Kelly from Liverpool so far since the end of last season.

TRANSFERS BY LEAGUE

They are the Premier League's lowest spenders this summer, having spent just 2.4 million pounds.

Former Cardiff boss Malky Mackay has been installed as the early favourite to succeed Pulis, with Tim Sherwood, Neil Lennon and David Moyes also considered possibilities.

Mackay, who is available after leaving Cardiff City last season, has close ties to Palace sporting director Iain Moody. It was Moody's dismissal as Cardiff's head of recruitment by owner Vincent Tan that appeared to spark the turbulence that led to Mackay being sacked in December, before the Welsh club were relegated in May.

Former Celtic manager Lennon is keen to land a top job in England after winning three successive Scottish league titles, and Sherwood is also looking for a Premier League return after getting his first taste of management with Tottenham last season.

However, Moyes -- out of work since leaving Manchester United last season -- may bide his time in anticipation of a bigger club coming in.